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EDO RECEIVES $44 MILLION CONTRACT FOR AIRCRAFT TEST UNITS
NEW YORK - August 21, 2007 - EDO Corporation (NYSE: EDO) has been awarded a $44 million firm-fixed-price contract for AN/PLM-4 radar-signal simulators used to test the electronic defenses of military aircraft. The "indefinite delivery/indefinite quantity" contract enables the U.S. Air Force to purchase approximately 491 AN/PLM-4 systems over the next five years. Initial funding has been provided for 279 units valued at $22 million.
The AN/PLM-4 radar-signal simulator generates radio-frequency (RF) signals, such as those used by anti-aircraft weapons. By simulating these signals, the aircraft’s defensive electronics can be tested on the flight line before take-off.
"Our PLM-4 quickly and effectively tests the radar-warning systems on virtually any military aircraft and is becoming the standard for the U.S. Air Force and many other countries," said James M. Smith, EDO’s chief executive officer. "This long-term contract allows for efficient planning and production, therefore minimizing costs to the government."
Since this product line was introduced in 1998, EDO has now received orders for more than 1,250 AN/PLM-4 systems in various configurations from both foreign and domestic customers. To date, more than 975 of these systems have been delivered.
In addition to the flight-line version, the radar-signal simulator is available in configurations for laboratory, shipboard, and vehicle testing.
EDO Corporation designs and manufactures a diverse range of products for aerospace, defense, intelligence, and commercial markets. Major product groups include: Professional and Engineering Services, Defense Electronics, Communications, Aircraft Armament Systems, Undersea Warfare, and Integrated Composite Structures. EDO’s advanced systems are at the core of the transformation to lighter, faster, and smarter defense capabilities.
With headquarters in New York, EDO Corporation (www.edocorp.com) employs 4,000 people worldwide. The company was founded in 1925 and had revenues of $715 million in 2006.
| Contacts: William A. Walkowiak, CFA Sara Banda |
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